Parsons Secures $60 Million Contract for Light Rail Project Expansion
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6d ago
0mins
Should l Buy PSN?
Source: seekingalpha
- Contract Value and Duration: Parsons has been awarded a $60 million contract by the Foothill Gold Line Construction Authority for a six-year term, aimed at completing the design of phase 2B2 of the Foothill Gold Line project, showcasing the company's ongoing competitiveness in large infrastructure projects.
- Project Background: This project is part of the world's longest linear light rail line, with phase 2B2 extending 2.3 miles from Pomona to Claremont, which is expected to significantly enhance commuter and visitor access between downtown Los Angeles and the eastern portion of Los Angeles County.
- Historical Contribution: Parsons has led the design for each phase of this project over the past 25 years, and the company's continued involvement not only solidifies its leadership in infrastructure design but also lays the groundwork for future projects.
- Community Impact: By extending light rail options, Parsons will improve access for previously transit-restricted neighborhoods, enhancing mobility for residents and visitors, and further driving regional economic development.
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Analyst Views on PSN
Wall Street analysts forecast PSN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PSN is 84.00 USD with a low forecast of 70.00 USD and a high forecast of 107.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
14 Analyst Rating
10 Buy
4 Hold
0 Sell
Moderate Buy
Current: 67.520
Low
70.00
Averages
84.00
High
107.00
Current: 67.520
Low
70.00
Averages
84.00
High
107.00
About PSN
Parsons Corporation is a disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and electronic warfare, space and missile defense, transportation, water and environment, urban development, and critical infrastructure protection. Its Federal Solutions segment provides advanced technical solutions to the United States government. This segment provides advanced technologies, supporting national security missions in cyber operations, missile defense, and military facility modernization, logistics support, hazardous material remediation and engineering services. Its Critical Infrastructure segment offers integrated engineering and management services for complex physical and digital infrastructure around the globe. This segment is a technology innovator focused on next-generation digital systems and complex structures. It also develops advanced, warfighter-focused solutions for military and security applications.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Project Background: This project is part of the world's longest linear light rail line, with phase 2B2 extending 2.3 miles from Pomona to Claremont, which is expected to significantly enhance commuter and visitor access between downtown Los Angeles and the eastern portion of Los Angeles County.
- Historical Contribution: Parsons has led the design for each phase of this project over the past 25 years, and the company's continued involvement not only solidifies its leadership in infrastructure design but also lays the groundwork for future projects.
- Community Impact: By extending light rail options, Parsons will improve access for previously transit-restricted neighborhoods, enhancing mobility for residents and visitors, and further driving regional economic development.
See More
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- Project Background and Impact: This project will add a 2.3-mile extension to one of the world's longest light rail lines, connecting Pomona to Claremont, which is expected to enhance commuter and visitor access between downtown Los Angeles and the eastern parts of Los Angeles County, thereby promoting regional economic development.
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- Technological Advancements: VisionWave has made progress on its dual-market autonomous systems platform, particularly in RF defense capabilities and the integration of QuantumSpeed assets, aimed at enhancing decision-making speed to address threats in complex environments.
- Strategic Partnership: A $7 million strategic exchange agreement with SaverOne combines RF technologies with a security platform, potentially allowing VisionWave to control approximately 51% of SaverOne if milestones are met, thereby strengthening its market position.
- Intellectual Property Transfer: VisionWave's joint venture with Boca Jom Ltd. has completed the transfer of three comprehensive intellectual property portfolios covering electronic design automation tools, aimed at addressing critical bottlenecks in chip manufacturing and enhancing the company's competitiveness in the semiconductor sector.
See More
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- System Deployment: Parsons Corporation's DroneArmor™ has been deployed by a federal national security customer to enhance security along the U.S. southern border, protecting personnel, communities, and critical infrastructure, highlighting its significance in national security.
- Technology Readiness: Achieving a Technology Readiness Level 9 (TRL-9), DroneArmor™ provides real-time situational awareness and precise mitigation capabilities against drone threats, having successfully completed rigorous government testing before operational deployment, thereby improving response capabilities.
- Intelligent Integration: The system seamlessly integrates artificial intelligence and machine learning technologies, autonomously tracking, identifying, and mitigating potential threats, which reduces operator cognitive load, accelerates decision-making, and enhances overall security.
- Commitment to Innovation: As a modular and scalable command and control platform, DroneArmor™ combines radar, electronic warfare, optics, and AI-enabled software, demonstrating Parsons' commitment to rapid innovation and adaptability in addressing evolving threats.
See More
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- Contract Value and Duration: Parsons has been awarded a $60 million contract by the Foothill Gold Line Construction Authority for a six-year term, aimed at completing the design of phase 2B2 of the Foothill Gold Line project, showcasing the company's ongoing competitiveness in large infrastructure projects.
- Project Background: This project is part of the world's longest linear light rail line, with phase 2B2 extending 2.3 miles from Pomona to Claremont, which is expected to significantly enhance commuter and visitor access between downtown Los Angeles and the eastern portion of Los Angeles County.
- Historical Contribution: Parsons has led the design for each phase of this project over the past 25 years, and the company's continued involvement not only solidifies its leadership in infrastructure design but also lays the groundwork for future projects.
- Community Impact: By extending light rail options, Parsons will improve access for previously transit-restricted neighborhoods, enhancing mobility for residents and visitors, and further driving regional economic development.
See More
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- Contract Value and Duration: Parsons Corporation has been awarded a $60 million contract by the Foothill Gold Line Construction Authority for a six-year term to complete the design of phase 2B2 of the Foothill Gold Line project, significantly advancing transportation infrastructure in the Los Angeles area.
- Project Background and Impact: This project will add a 2.3-mile extension to one of the world's longest light rail lines, connecting Pomona to Claremont, which is expected to enhance commuter and visitor access between downtown Los Angeles and the eastern parts of Los Angeles County, thereby promoting regional economic development.
- Sustainability Goals: Parsons is committed to providing innovative and sustainable solutions in design and construction, aimed at reducing traffic congestion, improving air quality, and ensuring safe and reliable access for commuters, reflecting the company's long-term dedication to infrastructure development.
- Historical Experience and Achievements: Since its founding in 1944, Parsons has amassed extensive experience in connecting California communities, having completed over 450 rail and transit projects, showcasing its expertise in infrastructure design and delivery.
See More
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- Road Maintenance Innovation: Honda's collaboration with the Ohio Department of Transportation successfully completed a pilot project that detects road deficiencies using real-time vehicle data over approximately 3,000 miles, potentially saving ODOT over $4.5 million annually in maintenance costs.
- Technology Application Impact: During the pilot, Honda test vehicles equipped with advanced sensors achieved high-accuracy detection of roadway surfaces, markings, and roadside assets, significantly enhancing maintenance efficiency and reducing the need for manual inspections, thereby improving road safety.
- Data-Driven Decision Making: Real-time data analysis allows ODOT to optimize restriping schedules and maintenance plans, ensuring clarity and safety of road markings, which elevates overall traffic safety levels.
- Future Development Direction: Honda plans to scale the system's application in the future, encouraging drivers to participate in road safety through anonymized data sharing, promoting a community-focused approach to maintaining safe roadways.
See More
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- Contract Extension: Parsons has been awarded a $593 million extension under the FAA's Technical Support Services Contract 5 (TSSC 5), highlighting the company's ongoing influence in the aviation sector.
- Total Contract Value: TSSC 5 has a ceiling value of $1.8 billion, with a four-year base period and two three-year option periods; this extension exercises the first option period, ensuring service through 2030.
- Support for Investment Plans: This contract extension will support the FAA's Aviation System Capital Investment Plan (CIP), aiding in the modernization and safety of U.S. aviation infrastructure, thereby reinforcing Parsons' position in the government contracting market.
- Market Outlook: Through this contract, Parsons not only strengthens its partnership with the FAA but also lays the groundwork for future projects and investment opportunities, which is expected to drive long-term growth in the aviation sector.
See More
